Guidance Software, Inc. (NASDAQ: GUID) today reported financial results for the first quarter ended March 31, 2017.

Financial highlights for the first quarter of 2017, on a generally accepted accounting principles (GAAP) basis, include:
  • Revenue of $26.8 million, compared to $25.8 million in the first quarter of 2016
  • Net loss of $1.7 million, or ($0.06) per share, compared to a net loss of $6.8 million, or ($0.24) per share, in the first quarter of 2016
  • EBITDA of ($0.5) million, compared to EBITDA of ($5.3) million in the first quarter of 2016

Financial highlights, on a non-GAAP basis, which excludes share-based compensation, amortization of intangibles, realignment expenses, and income taxes, include:
  • Non-GAAP net income of $2.2 million, or $0.07 per share, in the first quarter of 2017, compared to non-GAAP net loss of $2.2 million, or ($0.08) per share, in the first quarter of 2016
  • Non-GAAP EBITDA of $3.0 million, compared to non-GAAP EBITDA of ($1.1) million in the first quarter of 2016

"The Q1 financial results are a solid start to 2017. These results include growth in product revenue, total revenue, forensic security bookings, and earnings. Not only have we grown in each of these important areas that are crucial to our long-term success, we have strengthened our cash position as planned," said Patrick Dennis, Guidance Software's president and CEO.

2017 Financial Outlook

The Company is reaffirming its guidance for the year ending December 31, 2017 as follows:
  • Revenue is expected to be in the range of $112.0 million to $118.0 million
  • Non-GAAP pre-tax earnings in the range $0.28 - $0.36 per share
  • Non-GAAP EBITDA in the range of $9.0 million - $11.8 million, or non-GAAP EBITDA margins in the range of 8% - 10%

First Quarter 2017 Highlights and Recent Noteworthy Events
  • In February, SC Magazine named EnCase Endpoint Investigator and EnCase Forensic Best Computer Forensic Solution. This was the 7 th consecutive win for Guidance Software in this category.
  • In March, the Company announced a strategic partnership with Demisto, an innovator in Security Operations Technology. The Demisto integration enables customers to orchestrate incident response across multiple security products, saving time, resources, and ensuring forensic-grade remediation of threats.
  • In early April, the Company and Passware, Inc., a provider of password recovery, decryption, and electronic evidence discovery software for computer forensics, announced support for files encrypted with TrueCrypt - a popular open-source encryption platform.

Conference Call Information and Supplemental Information Slide Presentation:

The Company will host a conference call today at 2:00 p.m. Pacific time, 5:00 p.m. Eastern time to discuss its first quarter 2017 results. Participants should call 877-425-9470 (North America) or 201-389-0878 (International) at least five minutes prior to the conference call.

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